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Policy Adjustment And Control To Strengthen &Nbsp; Cotton Futures Need To Be Adjusted.

2010/10/30 15:00:00 67

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Wen Jiabao Cotton Futures Policy Regulation

Analysts expect cotton city to remain high and maintain the possibility of further breakthroughs under the support of the tight fundamentals, but it will adjust demand both in terms of technology and policy pressure in the short term.

Under the pressure of technical sell-off and the rise in the US dollar, the 27 us ICE cotton futures ended jump, the largest single day decline in 15 years, of which the ICE cotton December contract closed down 6 cents, closing at 1.2359 U.S. dollars / pound.

Despite the sharp drop in prices, analysts said the potential demand remained strong and could push the market to a new high in the near future.

On the basic level, the Minister of agriculture of India said at a meeting of economic editors 27, India will reconsider the cotton export policy in December. As of 26, the Ministry of textiles of India has issued 4 million 400 thousand packages of export licenses.

From the domestic cotton textile industry chain, seed cotton prices continue to remain high.

Function

In Shandong, the seed cotton with 40% linen is purchased at 6.2-6.3 yuan / Jin.

In Hebei and Tianjin, the purchase price of seed cotton at around 38--39% is 5.8-6 yuan / kg, and the purchase price of seed cotton in Xinjiang area is also maintained at 6.1-6.3 yuan / kg. In general, the spot price of linseed cotton is about 26500 yuan / ton.

From the overall low price in Shaoxing District, the mainstream price of 32S is around 34000 yuan / ton, the mainstream price of 32S combing is around 37500-38000 yuan / ton, and the mainstream of 40S is around 35000 yuan / ton, but the overall sales progress is rather light.

In addition, gray fabric market prices continue to rise.

According to the reporter's understanding, the wholesale market of Beijing's clothing price vane is higher than that of the same period last year. The price of cotton clothing is higher than 40%. However, the business volume of the market makers is not in the doldrums, but whether the continuous high prices can make consumers finally pay the market still need to be tested.

The central bank report pointed out that China's foreign trade growth in the four quarter will further slow down, which will be affected by a larger base and slower external demand.

The recovery of the global economy has slowed down in the second half of the year, but there is little possibility of a two dip. External demand reduction will restrain China's export growth to a certain extent, but its impact is limited.

In addition, according to 27 overseas media reports, the Fed may announce a progressive treasury bond plan at next week's policy meeting, and the scale of the capital injection bond market is smaller than previously expected.

Affected by this, 27 US dollars in Asia and Europe trading session continuation of the previous trading day up trend, to achieve two Lian Yang.

Analysts believe that the bottom of the U.S. dollar signs are obvious.

Premier Wen Jiabao presided over the 25 executive meeting of the State Council to analyze the current economic situation and deploy the four quarter economic work.

We should strengthen market supervision, vigorously rectify and standardize the market order, and severely punish all kinds of illegal activities, such as hoarding, collusion with prices.

We should strengthen the issue of price information on important commodities, and effectively guide social expectations.

Colleagues at the State Council meeting on the current economic situation and the four quarter of the work arrangements showed that the future inflationary pressure is still large, to guard against inflation risk will be the primary task of the government's economic work.

To stabilize prices, we will not rule out the possibility that China will raise interest rates again or raise the deposit reserve ratio in the four quarter.

Exchange rate adjustment will love you to cause export pressure to textile enterprises.

The exchange level has introduced new policies continuously, trying to maintain the smooth operation of the market.

In addition, the order of textile and clothing special events will be the focus of our next visit, which will be held on 31-11 October, 4, October. Once the order is not ideal, plus the late stage policy and the clear export policy of Hong Kong, there may be short-term adjustment demand.

According to China Weather Network October 28th reported that in the next three days, most parts of China are cloudy and drier.

weather

Precipitation is only found in western mountainous areas of Xinjiang.

North

The eastern part of Tibet, the southern part of Hainan, the southern part of Gansu, the southwest of Shaanxi, the northern part of the Western Sichuan Plateau, the northeast of Inner Mongolia, the northern part of Heilongjiang, the southwest part and the northwest part of Guangxi are mostly small (moderate) to moderate rain (snow) or sleet.

To sum up, Zhai Naigang, a financial analyst, believes that the technology sell-off and the US dollar have gone down, and the US cotton market has achieved the biggest one-day drop in 15 years. However, the domestic spot purchase market is still strong, and the new market is still in short supply. Therefore, the new cotton market will have limited effect on the control of cotton prices. The future high cotton price will become the norm. However, the continued jump in the market has already aggravated the risk of the industrial chain. The continuous strengthening of the policy also has a constraint on the short-term cotton price. The analysts expect that although cotton market will remain high and maintain the possibility of continuous breakthroughs under the support of the tight fundamentals of demand, it will adjust the demand both in terms of technology and policy pressure in the short term.